Tesla's profit fell in third quarter even as sales rose. Musk sees robotaxi expansion by year end

Core Points - Tesla reported a fourth consecutive decline in quarterly profit despite an increase in sales, leading to a drop in shares during after-hours trading [1][3] - The company's third-quarter earnings fell 37% to $1.4 billion, or 39 cents per share, compared to $2.2 billion, or 62 cents per share, a year earlier [2] - Revenue increased to $28.1 billion from $25.2 billion, driven by a 7% rise in electric vehicle sales and growth in battery storage and electric charging businesses [4] Financial Performance - Earnings excluding certain charges decreased to 50 cents per share from 72 cents per share a year ago, falling short of the 56 cents forecast by analysts [6] - Gross margins reached 18%, the highest for the year, but declined from the previous year and from 25% four years ago due to discounts and incentives [5] Strategic Focus - Elon Musk emphasized diversifying the business beyond car sales, highlighting initiatives like the driverless robotaxi service, AI products, and Optimus robots [3] - Musk expressed confidence in the robotaxi service, planning to remove safety monitors from the driver's seat by year-end in Austin, Texas, with expansion to other metro areas [3]